The interest rate on Federal Direct Unsubsidized Loans borrowed by undergraduate students between July 1, 2017 and June 30, 2018 is 4.45%, and the interest rate for graduate and professional students is 6.00%. The loan origination fee for loans borrowed between October 1, 2016 and Septemer 30, 2017 is 1.069%. The loan origination fee for loans borrowed between October 1, 2017 and September 30, 2018 is 1.066%, and is deducted from your loan at the time of disbursement.

You’re charged interest on this loan from the time the loan is disbursed until it is paid in full. If the interest is allowed to accumulate, the interest will be added to the principal amount of the loan and increase the amount to be repaid.

How to Apply

To apply for a Federal Direct Unsubsidized Loan, you must complete the FAFSA. To be eligible, you must be enrolled for at least 6 hours per semester. If you’re eligible for a Federal Direct Unsubsidized Loan, it will be included on your Financial Aid Award Letter.

How to Accept, Reduce, or Decline Your Loan Offer

You can accept or decline a Federal Direct Unsubsidized Loan on your electronic Award Letter by selecting “Accept” or “Decline” in the dropdown box on the Award Letter Accept/Decline Awards page.

You can reduce your loan by selecting “Accept” in the dropdown box and entering a lower award amount in the “Partial Accept” field. If you wish to request loan changes, you should “Request Changes” on the Award Letter Information Request page.